Naval Artillery System Market Grow with a CAGR 2020-2027 Focuses On Top Companies, General Dynamics Corporation, Burevestnik, BAE Systems, Nexter group, Rheinmetall AG, Norinco, Defsys Solutions, Aubert & Duval

The naval artillery system market is segmented into product type, range, artillery type, and region. By product type, it is segmented into naval artillery, submarine artillery, and coastal artillery. In terms of range, it is segmented into short range, medium range, and long range. By artillery type, it is divided into howitzer, anti-air, mortar, rocket, and others. Region-wise, it is analyzed North America, Europe, Asia-Pacific, and LAMEA.

Naval artillery is artillery mounted on a warship, originally used only for naval warfare, later also for shore bombardment and for anti-aircraft use. The term generally refers to tube-launched projectile-firing weapons and excludes self-propelled projectiles like torpedoes, rockets, and missiles and those simply dropped overboard like depth charges and naval mines. This type of defense system is considered the most devastating and has gained popularity in the defense sectors of all leading nations across the globe.

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The naval artillery system market is growing significantly due to increase in concern for security activities across the globe. Some of the major factors that drive the growth of the market include sustained effect on target areas & ships, less time of reaction and least possible time of handling and engagement of coastal targets against clutter background and in a heavy jamming environment. In addition, the demand to increase the national naval armory with more advanced weapons and ammunitions by the government authorities has increased the demand of naval artillery systems and will eventually drive the growth of this market. Moreover, increased spending and investments of several countries on their naval defense is projected to boost the demand for the naval artillery systems market during the forecast period.

However, the high cost of the naval artilleryy system mostly in the developing countries is expected to hamper the growth of the market. Furthermore, technological reforms and introduction of new technologies consistently improve the installation of naval artillery systems thereby improving its efficiency. Hence, technological momentum is further anticipated to offer new growth dimensions to the global naval artillery system market during the forecast period.

Key players of the global naval artillery system naval artillery system market include are Navantia, General Dynamics Corporation, Burevestnik, BAE Systems, Nexter group, Rheinmetall AG, Norinco, Defsys Solutions Pvt. Ltd., Aubert & Duval, and Geo Informatics Consultants Pvt. Ltd.

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KEY MARKET SEGMENTS

By Product Type
Naval Artillery
Submarine Artillery
Coastal Artillery

By Range
Short Range
Medium Range
Long Range

By Artillery Type
Howitzer
Anti-air
Mortar
Rocket

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